The Asian Development Bank (ADB) has kept the forecast for GDP growth in Turkmenistan at 6.5%, according to the “Asian Development Outlook 2017 Update: Sustaining Development Through Public-Private Partnership”.
According to the bank’s forecast, the economy of Turkmenistan will grow by 6.5% in 2018. Meanwhile, the ADB lowered its forecast for inflation in Turkmenistan for 2017 from 6% to 5.7% and for 2018 – from 6% to 5.5%.
“Asian Development Outlook 2017” and “Asian Development Outlook 2017 Update” are the main economic publications of ADB, containing an analysis of the state of economies and forecasts for countries of Asia and the Pacific.
Turkmenistan is rich in natural gas resources. According to BP, the country’s recoverable reserves are estimated at 17.5 trillion cubic meters of gas or 9% of total global reserves, which puts Turkmenistan on the fourth position after Iran, Russia and Qatar.
Turkmenistan supplies gas to China and Iran. Turkmenistan is diversifying its economy, developing the textile and oil products industry, actively developing oil and gas chemical industries and the industry for the production of construction materials. (Trend/Business World Magazine)
